SunSirs: The Demand has Improved, and the Focus of the LPG Market has Moved Upward in China

Last week, the overall trend of the domestic LPG market was strong. The civil gas market in Shandong fell first and then rose, and the focus moved up slightly. According to the data monitoring of SunSirs, the average price of LPG in Shandong market was 5,680.00 yuan / ton on August 22, and 5,740.00 yuan / ton on August 29, with an increase of 1.06% in the week and 21.27% compared with the same period last year.

Last week, the domestic LPG market as a whole was still the main actor. The rise of Shandong civil gas market was greater than the decline, and the focus was shifted upward. In terms of cost, international crude oil surged during the week, which brought certain support to the market. And the trend of relevant downstream products is good, which is good for the market mentality. In addition, some regions have cooled down recently, and the terminal demand has improved. The downstream mentality is better, the market entry is more active, and the market trading atmosphere is mild. The overall attitude of the manufacturers is relatively strong, and the prices in the later part of the week have been increased one after another.

On August 29, the opening price of LPG futures contract 2210 was 5,679, the highest price was 5,762, the lowest price was 5,622, the closing price was 5676, the previous settlement price was 5,700, the settlement price was 5,687, down 24, the trading volume was 146,571, the position was 90,975, and the daily increase was -2,033. (quotation unit: yuan / ton)

The recent rise in international crude oil prices has brought obvious support to the market in terms of cost. As the traditional off season is coming to an end, the demand is expected to improve in the later stage, the downstream mentality is good, and the market trading atmosphere is mild. In addition, there is no obvious change in the supply of Shandong market. It is expected that the price of China Shandong civil gas market will be strong in the short term.

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